The Real Value of Social Media for Business

A short guide for those struggling with LinkedIn or other social media for business – Let’s start again

Over the past year I’ve noticed more and more businesses are recognising the potential in Linked-In and other social media as part of their marketing mix – but how many actually know how to use them properly?

Whilst there's been a shift in the number of businesses using LinkedIn and other social media, many are still confused as to its actual use and value in generating new business – many hear of success stories, few reap the rewards for themselves.

First let us understand where this shift comes from. When social media first launched we all sat starry-eyed at the ability to connect, on a social level, to anyone anywhere in the world.  Old friendships were re-kindled and our social circle was no longer restricted to those we actually saw and interacted with on a daily basis.

With this excitement came the need, for some, to build the biggest networks possible. The thinking was that the bigger the network the better connected someone would be. It's now become, "look how popular I am!"

When business social networking joined the party the same principles were applied. We just connected with as many people as possible in the hope that, at some point, just being connected might lead to new business one day . Occasionally useful things get posted too, but it's not consistent enough to warrant long-term interest – for most of us.

Let’s be clear: we can only effectively manage a certain number of relationships at any one time, so the value of Linked-In and other social media is not about the size of your network, it is about the quality of that network. It’s about how well you engage with people, and how well you grow and develop the relationships.

Social media is a tool to start relationships, a place to engage business contacts and prospects and to act as a catalyst to a physical business relationship.  It won’t ever replace traditional forms of marketing—the phone call, the 1-2-1 meeting, networking or the sales pitch—but it will compliment them.

We can use social media to actively and passively engage our prospects, by offering them something of value, in effect becoming a virtual resource.

If I was starting out on LinkedIn today, here's what I would do:

Firstly complete your profile—all of it!  An incomplete profile will lose engagement in a second, and you only have one chance to make a first impression.

Once you're properly represented by your profile, make contact. Connect with your suppliers, your clients, your good business contacts and good friends who may be in business but not necessarily in a similar field. These people could be your influencers.

Start to post about your business speciality. That could be interesting or informative articles, discussions, tips, thoughts, pictures, videos or links that relate to what you do or the service you provide.  The balance you’re looking for is 85% telling and sharing and 15% selling.

Many struggle when it comes to what to post, but here lies an opportunity to do something fun, Make it slightly unconventional. Engage and encourage interaction and comment but, above all, make people think.

It doesn’t all have to be serious and direct. Business social media does have a social aspect! Most of us are happy to develop and maintain casual business relationships with the contacts we trust and consider of value to our business… so loosen up a little.

This is however, where it needs a little investment of time; finding a selection of things to post, or creating your own content from scratch, will require focus and planning.

Some people are gifted in the ability to write and craft compelling articles that engage you from the first word. For others, me included, it’s a struggle and something that doesn’t come naturally, so it takes a little longer. But, as with many things in life, practice makes perfect, and it will become easier.

If you’re not a competent writer then that’s fine, you don’t need to be.  You will, however, need to create short and interesting posts or headlines to 'hook' people to read the article itself.

In terms of what you share, it can be anything that is genuinely informative, interesting or useful to your contacts. It doesn't have to be crafted by you either: it's still useful to share a link to an external source.

Once you’ve established your basic profile and you have a number of posts or updates under your belt, it's time to identify and research your top 20 or so prospects.  If you can see their profile, look at the things they have posted, the groups they belong to and if they have shared their own comments, thoughts or problems.

This will give you an insight into them, their business life and perhaps some of the problems they experience - you are looking for an opportunity to help them.

Inviting prospects to connect – How?

Here’s where many fail: they simply invite someone to connect with a standard message that says something like, “Hi, I'd like to add you to my professional network.”  It's not likely to end well…

A normal reaction from the recipient would be to question who they are, especially if you barely know them, and probably ignore the request to connect.  In essence, there’s been no value offered in connecting.

To begin with, see if you are connected through your own network of contacts, if so, simply ask for an introduction and to open the door for an invitation to connect.

If there is no natural connection and the prospect is cold you will need to know their e-mail address, from here you can invite them to connect through LinkedIn or sent them a normal e-mail which would simply link to your profile on the site.

Which works best?  Try them both and see for yourself. Here's how I'd make the approach:

“Hi,

I regularly post interesting articles, tips, advice and discussions that relate to xyz, which I think may be of use/interest to you, now or in the future. I'd like to connect so that you can be kept up-to-date with all the latest and relevant information, as well as any important posts that I share relating to xyz.

You can see some of my recent posts on my profile or click here to link to my profile page.

I hope you find it useful.

Regards,

Paul K

Will it work every time? Perhaps not, but it will improve your chances of starting meaningful business relationships.

Of course, this approach relies on making sure you actually do post interesting and informative information, topics or articles…but that’s the overriding point.

Your social media profile is a tool to engage and develop business relationships. To keep prospects engaged, sometimes over a period of months until they’re ready to buy, you have to be able to add value through the connection you have with them.

Increasingly and sensibly, people are careful, assessing the value of the connection before committing to connect. They ask themselves, "Will this person add value through being connected or simply become a pest or nuisance?"

Social and business networking are both passive ways to encourage discussion and interaction with people, but you can make them active: If someone likes, shares or comments on one of your posts, thank them.  Send them a message and begin a conversation. Who knows where it will lead?

Sure, you may strike-out a few times, but if the quality of what you share is good, interesting and useful, you will soon start to attract and engage the right people, conversations will begin and relationships will develop.

What happens beyond this is down to you.

Social media are tools to engage and start relationships. They will never replace one-to-one real conversations and other traditional methods of connecting with prospects. They do now, however have a big part to play in how these relationships can begin.

Social Media is a journey, when will yours begin?

Good Luck!